Most of the time when you hear about
trade, it is about trade in goods, in part because it is easier to wrap
our minds around the idea of goods (pictures of large container ships
help, and we often notice the markings on products that note where they
were made). However, the United States exports a sizable amount of
services (non-tangible items of value, such as school tuition or an
airplane ticket), and they are leading the way toward doubling U.S.
exports in support of several million new jobs under President Obama’s
National Export Initiative.

A few reasons why greater emphasis should be placed on our trade in services:

Services make up a big part of the economy: 80 percent or so depending on how you define it.

In 2010, we exported over a half trillion dollars (wow) of services, an all-time high.

The trade surplus in services in 2010 topped $526.6 billion.

Services jobs represent high-skill, high-wage jobs.

From 2002-2008, our private services exports grew at an annual average rate of 11.1 percent.